Company Registration No. 3830649 (England and Wales)
CHARNWOOD GARAGE DOORS LIMITED
Unaudited accounts
for the year ended 31 August 2017
CHARNWOOD GARAGE DOORS LIMITED
Unaudited accounts
Contents
CHARNWOOD GARAGE DOORS LIMITED
Company Information
for the year ended 31 August 2017
Directors
M Glover
A Harrison
Company Number
3830649 (England and Wales)
Registered Office
39 AVENUE ROAD
QUENIBOROUGH
LEICESTER
LEICESTERSHIRE
LE7 3FB
Accountants
AJD Accountancy Services Ltd
The Bungalow
Coppice Lane
Queniborough
Leicester
LE7 3DR
CHARNWOOD GARAGE DOORS LIMITED
Statement of financial position
as at 31 August 2017
Tangible assets
15,781
1,570
Cash at bank and in hand
10,267
1,164
Creditors: amounts falling due within one year
(24,151)
(23,345)
Net current liabilities
(3,517)
(7,004)
Total assets less current liabilities
12,264
(5,434)
Creditors: amounts falling due after more than one year
(8,974)
-
Provisions for liabilities
Net assets/(liabilities)
1,396
(5,434)
Called up share capital
100
100
Profit and loss account
1,296
(5,534)
Shareholders' funds
1,396
(5,434)
For the year ending 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 9 January 2018.
M Glover
Director
Company Registration No. 3830649
CHARNWOOD GARAGE DOORS LIMITED
Notes to the Accounts
for the year ended 31 August 2017
CHARNWOOD GARAGE DOORS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 3830649. The registered office is 39 AVENUE ROAD, QUENIBOROUGH, LEICESTER, LEICESTERSHIRE, LE7 3FB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Computer equipment
20% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
CHARNWOOD GARAGE DOORS LIMITED
Notes to the Accounts
for the year ended 31 August 2017
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2016
20,465
1,742
22,207
Additions
13,081
2,479
15,560
Disposals
(20,465)
-
(20,465)
At 31 August 2017
13,081
4,221
17,302
At 1 September 2016
20,465
172
20,637
Charge for the year
541
-
541
Surplus on revaluation
-
808
808
On disposals
(20,465)
-
(20,465)
At 31 August 2017
541
980
1,521
At 31 August 2017
12,540
3,241
15,781
At 31 August 2016
-
1,570
1,570
Trade debtors
9,110
11,093
Accrued income and prepayments
233
141
6
Creditors: amounts falling due within one year
2017
2016
Bank loans and overdrafts
-
265
Obligations under finance leases and hire purchase contracts
3,076
-
Trade creditors
19,217
21,030
Taxes and social security
5
2,050
Loans from directors
873
-
7
Creditors: amounts falling due after more than one year
2017
2016
Obligations under finance leases and hire purchase contracts
8,974
-
Hire purchase contracts are secured by fixed charges on the assets concerned.
CHARNWOOD GARAGE DOORS LIMITED
Notes to the Accounts
for the year ended 31 August 2017
8
Deferred taxation
2017
2016
Accelerated capital allowances
2,998
-
Tax losses carried forward
(1,104)
-
Charged to the profit and loss account
1,894
-
Provision at end of year
1,894
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director loan
2,345
5,482
6,852
975
The company is owned jointly by its directors A Harrison and M Glover.
12
Average number of employees
During the year the average number of employees was 2 (2016: 2).
